Santelli is an arch-conservative CNBC reporter, who has received a lot of media coverage over the last week for an on-air rant decrying government spending and waste embodied, he says, by the passing of the recent stimulus bill.

His new organization, The New American Tea Party, acting like an umbrella organization encompassing several fiscally conservative political watch and advocacy groups, aims at undermining the stimulus by preventing the funds from reaching their assigned targets.

“There is so much pork in this bill it would give the healthiest man a heart attack!” Santelli bellowed on CNBC. “Millions here for the arts. Millions there for roads. What’s a couple hundred million for unemployment benefits?! Sure, why not? Lets encourage people not to get jobs. Let’s just give them more taxpayer money to not work and not pay taxes which would go to someone else who is not working!”

“It’s lunacy!”

Santelli’s organization is working closely with conservative lawmakers, specifically governors and state legislators who will most directly receive stimulus funds.

“We’ve already had somewhere in the ballpark of 50 million dollars of stimulus money pledged by local lawmakers for use in the tea party,” Santelli says in a blog posting on the groups website.

“Rather than that money going to these ridiculous and wasteful pet projects, we are going to proverbally put it our pipes and smoke it! But rather than smoking it, we’ll be drinking it. In our tea. Literally.”

Inspired by the Boston Tea Party, which famously threw crates of tea into the Boston Harbor rather than have it sold for inflated prices and with outlandish taxes, the New American Tea Party will in fact steep hundreds of hundred dollar bills in near-boiling water.

“I’m going to drink it down and urinate it out! I plan to show that the stimulus money will be as effective at stimulating the economy as my urine will be to stimulate my lawn. Which is un-stimulating! It will kill my lawn! And the stimulus will kill the economy!”